Allergy Diagnostics Market Emerging Trends, Opportunities, Key Developments 2022-28

According to Precision Business Insights (PBI), the latest report, the allergy diagnostics market is expected to be worth USD 4.7 billion in 2022, growing at a 11.3% CAGR from 2022 to 2028. The global allergy diagnostics market is segmented into the following types: by Product & Service (Consumables, Instruments (Immunoassay Analyzers, ELISA Analyzers, Luminometers, and Other Instruments), Services), by Allergen (Inhaled Allergens, Food Allergens, Drug Allergens, Other Allergens), Test Type (In Vivo Tests (Skin Prick Tests, Patch Tests, Other In Vivo Tests), In Vitro Tests), End User (Diagnostic Laboratories, Hospital-based Laboratories, Academic Research Institutes, Other End Users) and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the allergy diagnostics market report are bioMerieux, Thermo Fisher Scientific, Danaher Corporation, Omega Diagnostics, Hitachi Chemical Diagnostics, Stallergenes Greer, Siemens Healthcare, Lincoln Diagnostics, Hycor Biomedical, HOB Biotech Group, and Alcon Laboratories. The extensive use of technology-based interventions in clinical settings, such as mobile health, has made it possible for patients to participate actively in their healthcare. Utilizing mobile communication tools like computers, tablets, and smartphones, mobile health (mHealth) aims to improve patient education and disease self-management, assist in remote patient monitoring, facilitate the flow of data and information, and manage diseases from initial diagnosis to optimal treatment. Furthermore, the widespread frequent consumption of processed foods and beverages, the food allergen testing sector has experienced significant growth internationally. Due to the expansion of the dairy, processed food, and confectionery industries, the industry is projected to experience considerable momentum in the following years. In food processing facilities, allergy management systems use testing to identify allergens at practically every stage of the production process.

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Vitro Tests Segment to Dominate the Allergy Diagnostics Market:
The vitro tests segment is expected to account for a larger revenue share in the global allergy diagnostics market. It is projected to grow at a 11.6% CAGR between 2022 and 2028. This is mainly attributable to the expanding use of skin prick tests, specifically IgE-mediated allergy testing, in diagnosing food allergies. The in vitro test market is also anticipated to expand significantly over the next several years due to rising demand for less invasive diagnostic techniques, lab automation, and results that are highly accurate and sensitive. To capture the most significant proportion of the market, businesses are concentrating on offering allergy-specific solutions and precise, result-oriented technologies.

Asia Pacific Allergy Diagnostics Market:
The Asia Pacific market is expected to increase in the global allergy diagnostics market over the forecast period. It is projected to grow at a CAGR of 12.2% in the coming years. Due to the region's aging population, it is expanding disposable income, growing prevalence of allergy disorders, and strengthening healthcare infrastructure. Additionally, it is anticipated that the expansion of the Asia allergy diagnostics market will be fueled by the rising population and expanding economies of developing nations like China, Japan, and India. Some of the most recent trends include mergers and acquisitions, research and development efforts, and new product launches, and these developments are predicted to accelerate market expansion in the future.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global allergy diagnostics market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In August 2020, HYCOR Biomedical and Changsha Haike Biotechnology Co., Ltd., announced registration from China Hunan Medical Products Administration (HMPA) for the ALLEOS 2000 allergy testing system.

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Detailed Segmentation
Based on the product & services, the market is segmented into the following:
• Consumables
• Instruments
• Services

Based on the allergen, the market is segmented into the following:
• Inhaled Allergens
• Food Allergens
• Drug Allergens
• Other Allergens

Based on the test type, the market is segmented into the following:
• In Vivo Tests
• In Vitro Tests

Based on the end user, the market is segmented into the following:
• Diagnostic Laboratories
• Hospital-based Laboratories
• Academic Research Institutes
• Other End Users

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This release was published on openPR.